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The financial agreement will primarily support key activities of economic development and job creation, particularly in the agriculture and industry sectors and basic services delivery in health and education.
Prime Minister Abiy Ahmed and a Ministerial delegation are currently in Rome on an official visit to Italy. Prime Minister Abiy and his counterpart, Italian Prime Minister Giorgia Meloni reviewed the latest trends in Ethio-Italian cooperation and partnership. Both leaders signed the ‘Ethiopian-Italian Cooperation Framework 2023-2025 agreement which is expected to strengthen the bilateral ties. The agreement includes a financial commitment of 180 million euros in both soft loans and grants. The financial agreement will primarily support key activities of economic development and job creation, particularly in the agriculture and industry sectors and basic services delivery in health and education.
Speaking to the media after the signing of the agreement, Abiy stated that the cooperation framework agreement will have a vital role in taking ahead Ethiopia’s economic reform Programme and ten-year perspective development plan. Both sides signed a joint declaration for a three-year development cooperation program. As per the declaration, Ethiopia will receive 140 million euros, 100 in credit and 40 in the form of donations.
Another two agreements were signed by the Italian Minister of Foreign Affairs, Antonio Tajani, and the Ethiopian finance minister for 42 million euros on the tea and coffee supply chains, and on water infrastructure in the arid areas of the country.
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Prime minister Giorgia Meloni, during the press conference, said that Ethiopia has a pivotal role to play in building the stability of the Horn of Africa. He pledged Italy’s support for the development of Ethiopia with an ambition to be a privileged partner of the Region. He added that there is bright scope for Italian entrepreneurs to invest in the energy and infrastructure sectors of Ethiopia. To promote Italian investments and collaboration with Ethiopia, he stated that his office is planning an Official business mission to Ethiopia soon.
